Prestige Group Expands Chennai Footprint with Major 25-Acre Acquisition in Medavakkam

Prestige Estates Projects Limited has expanded its footprint in Chennai with the acquisition of a 25-acre land parcel in Medavakkam, reinforcing its long-term growth strategy in the city.  

The site offers significant scale and is expected to support a large-format residential development aligned with the group’s focus on high-demand urban corridors. 

Medavakkam Acquisition and Development Scope  

The Medavakkam parcel carries an estimated development potential of around 5 million square feet, with projected top-line revenue exceeding ₹5,000 crore.  

The location has emerged as a key residential micro-market due to its proximity to the OMR IT corridor, improving road connectivity and upcoming metro access.  

These factors support sustained mid-segment housing demand and make the area suitable for large, integrated residential projects. 

Strategic Focus on Chennai Market  

As per the exchange filings, Irfan Razack, Chairman and Managing Director of Prestige Group, said, “This land acquisition in Medavakkam aligns with our long-term view on Chennai as an important market for the Group. The location is well suited to address the city’s sustained mid-segment housing demand, supported by improving infrastructure and proximity to key employment hubs.”  

The project will be developed in line with Prestige Group’s established standards of design, quality and execution, with configuration and timelines to be announced later. 

Read More: Ramco Cements Sells ₹515-Crore Non-Core Assets to Prestige Estates to Cut Debt! 

Prestige Estates Projects Share Price Performance  

As of December 23, 2025, at 9:20 AM, Prestige Estates Projects Limited share price is trading at ₹1,606.70 per share, reflecting a gain of 0.22% from the previous closing price. Over the past month, the stock has declined by 1.51%. 

Conclusion 

The Medavakkam land purchase strengthens Prestige Group’s development pipeline in Chennai and positions the company to tap into the city’s expanding residential demand. With scale, connectivity and infrastructure working in its favour, the project is set to play a meaningful role in the group’s next phase of growth in the region. 

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